Separately, Zacks Investment Research lowered Intrepid Potash from a buy rating to a hold rating in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $4.92.
IPI stock traded down $0.06 during trading on Thursday, reaching $3.12. 413,463 shares of the company’s stock were exchanged, compared to its average volume of 464,693. The company has a quick ratio of 0.57, a current ratio of 1.62 and a debt-to-equity ratio of 0.08. Intrepid Potash has a 1-year low of $2.51 and a 1-year high of $4.41. The company’s fifty day moving average price is $3.30 and its 200-day moving average price is $3.40. The firm has a market cap of $426.26 million, a PE ratio of 34.67 and a beta of 1.26.
In other news, Director Hugh E. Harvey, Jr. acquired 20,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average price of $3.23 per share, for a total transaction of $64,600.00. Following the completion of the acquisition, the director now directly owns 231,972 shares in the company, valued at approximately $749,269.56. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert P. Jornayvaz III acquired 10,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was purchased at an average price of $2.90 per share, with a total value of $29,000.00. Following the acquisition, the chief executive officer now owns 2,099,144 shares of the company’s stock, valued at $6,087,517.60. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 121,896 shares of company stock valued at $364,099. Insiders own 27.80% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. WINTON GROUP Ltd lifted its holdings in shares of Intrepid Potash by 44.7% during the second quarter. WINTON GROUP Ltd now owns 300,087 shares of the basic materials company’s stock valued at $1,008,000 after purchasing an additional 92,687 shares during the last quarter. AE Wealth Management LLC lifted its holdings in shares of Intrepid Potash by 86.5% during the second quarter. AE Wealth Management LLC now owns 128,511 shares of the basic materials company’s stock valued at $432,000 after purchasing an additional 59,586 shares during the last quarter. Quantitative Systematic Strategies LLC lifted its holdings in shares of Intrepid Potash by 103.3% during the second quarter. Quantitative Systematic Strategies LLC now owns 25,557 shares of the basic materials company’s stock valued at $86,000 after purchasing an additional 12,987 shares during the last quarter. Aperio Group LLC lifted its holdings in shares of Intrepid Potash by 25.4% during the second quarter. Aperio Group LLC now owns 29,856 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 6,045 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. purchased a new stake in shares of Intrepid Potash during the second quarter valued at $57,000. Institutional investors and hedge funds own 42.62% of the company’s stock.
About Intrepid Potash
Intrepid Potash, Inc produces and sells potash and langbeinite products in the United States and internationally. It operates through three segments: Potash, Trio, and Oilfield Solutions. The Potash segment offers muriate of potash or potassium chloride for use as a fertilizer input in the agricultural market; as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes in the industrial market; and as a nutrient supplement in the animal feed market.
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